Posted 3/31/2011 21:07 (#1701618 - in reply to #1701587) Subject: Winger
Mascoutah, Illinois
I read a piece yesterday that funds were liquidating the past two weeks in corn due to the excessive amount of upside leverage they had acquired during this rally. In order to get a bit "flatter" going into the report, funds were sellers just in case the USDA came up with extra bushels or extra acres which would send the market down very quickly. I have to believe many of these funds are buying back the contracts now with the USDA REPORT in the rearview mirror.
Overnight corn is pounding higher, could lock 45.....nt..
